Innovative Structures for Facilitating Private Equity Exits through India Focused SPACs

Thursday, March 11, 2021

Session I: 02:00 PM – 03:00 PM (IST)

 

Session II: 09:00 PM – 10:00 PM (IST)

 

 

INTRODUCTION

 

With more than USD 82 billion of capital raised in 2020 alone, SPACs are undoubtedly the talk of the town globally. So far, almost all SPAC targets have emerged from the western markets. However, start-ups and businesses in Asia and particularly India are now poised to be the next round of SPAC targets. With overseas public markets offering higher valuations, SPAC is an attractive proposition for Indian businesses. The announcement of the merger of RMG II SPAC with ReNew is a market first for India and has paved the way for other Indian businesses to follow. We, at NDA, played an instrumental role in structuring the SPAC transaction with ReNew Group and acted as the legal and tax counsel to the ReNew Group.

Join our experts live as they demystify SPACs from a legal, regulatory and tax perspective.

Focus Area

  1. Why SPACs?

  2. Benefits of SPACs for the (i) SPAC founders, (ii) public SPAC investors and (iii) private equity investors and promoters of the Indian target;

  3. How to identify a SPAC target in India?;

  4. Legal and tax issues in a SPAC structure;

  5. Securing Indian promoter interest in a SPAC transaction;

  6. Understanding the SPAC Documentation; and

  7. Regulatory approvals required in a SPAC Transaction.

Speakers

NISHCHAL JOSHIPURA

Head – Private Equity & Mergers & Acquisitions, Nishith Desai Associates

Nishchal Joshipura co-leads the Corporate practice at Nishith Desai Associates. Nishchal is a lawyer, Chartered Accountant and MBA. He has led several high profile M&A and Private Equity deals and set up multiple offshore and domestic India focussed funds. He specializes in legal and tax structuring of complex cross-border transactions. He also specialises in SPACs and Control transactions.

He also advises major MNCs on Corporate & Securities laws, International Taxation, Globalization, Structuring of Inbound/ Outbound Investments and Exchange Control Laws. He has been “Highly Recommended” by various legal directories for legal and tax advice on M&A, Private Equity and Investment Funds.

He was nominated as a “Young Achiever” at the Legal Era Awards 2015 based on industry research, reviews, rating and surveys conducted by Legal Era

PARUL JAIN

Co-Head – International Tax Practice, Nishith Desai Associates

Parul co-heads the International Tax Practice at Nishith Desai Associates. A lawyer and a chartered accountant by profession, she has close to two decades of experience in corporate and international tax field and specializes in M&A transactions and Private Equity space. Prior to joining Nishith Desai Associates, she was partner at M&A Tax practice in one of the Big Four accounting firms. She advises extensively on cross border taxation, acquisition and reorganisation strategies including debt funding and investment strategies. She has also worked closely with renowned fund managers in structuring set up of their offshore and domestic fund platforms, including providing advice on carry structuring from a legal and tax perspective. She has been recognized by International Tax Review World Tax 2013 and has also been listed in The Legal500 Directory. She has also been recognized as one of the Leading Women Leaders in Tax 2016, 2017 and 2019 by International Tax Review.

Ashish Kabra

Head (Singapore) – International Dispute Resolution & Investigations Practice, Nishith Desai Associates

Ashish leads the International Dispute Resolution & Investigations practice of Nishith Desai Associates in Singapore. He has super specialism in corporate transactional disputes. He is experienced in handling cross border disputes and has successfully represented clients across various forums including domestic and foreign arbitrations, Supreme Court of India, Company Law Tribunal etc. He is also particularly adept in managing shareholder and construction disputes. Ashish is a registered foreign lawyer with the Legal Services Regulatory Authority, Singapore, and the Singapore International Commercial Court.

Ashish is also a leader in the Corporate Transactions Group and is regularly called upon to troubleshoot sensitive issues emanating from complex investment structures and emerging investment products. He has advised on and lead several sensitive and contentious transactions.